Massachusetts Financial Services Co. MA Has $774.41 Million Position in Northern Trust Corporation (NASDAQ:NTRS)

Massachusetts Financial Services Co. MA boosted its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 4.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,850,088 shares of the asset manager's stock after acquiring an additional 363,472 shares during the quarter. Massachusetts Financial Services Co. MA owned 4.01% of Northern Trust worth $774,411,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its holdings in shares of Northern Trust by 47.8% during the 1st quarter. Bank of New York Mellon Corp now owns 1,810,816 shares of the asset manager's stock valued at $178,637,000 after buying an additional 585,992 shares during the last quarter. Asset Management One Co. Ltd. lifted its holdings in shares of Northern Trust by 8.4% during the 1st quarter. Asset Management One Co. Ltd. now owns 84,974 shares of the asset manager's stock valued at $8,383,000 after buying an additional 6,570 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of Northern Trust by 4,790.3% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 113,503 shares of the asset manager's stock valued at $11,197,000 after buying an additional 111,182 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Northern Trust during the 4th quarter valued at about $7,437,000. Finally, Alta Wealth Advisors LLC acquired a new stake in shares of Northern Trust during the 1st quarter valued at about $413,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Northern Trust Stock Performance

NASDAQ NTRS traded down $1.71 during trading on Tuesday, hitting $124.87. The company's stock had a trading volume of 955,945 shares, compared to its average volume of 1,444,299. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.57. The firm has a 50 day moving average price of $113.03 and a 200 day moving average price of $105.61. The firm has a market cap of $24.29 billion, a P/E ratio of 11.64, a price-to-earnings-growth ratio of 1.82 and a beta of 1.26. Northern Trust Corporation has a 52 week low of $80.81 and a 52 week high of $133.00.

Northern Trust (NASDAQ:NTRS - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.85 by $0.05. The business had revenue of $1.95 billion for the quarter, compared to analysts' expectations of $1.95 billion. Northern Trust had a return on equity of 13.73% and a net margin of 13.93%. Equities research analysts forecast that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 6th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.40%. The ex-dividend date was Friday, June 6th. Northern Trust's dividend payout ratio is 27.99%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NTRS. Morgan Stanley boosted their target price on Northern Trust from $103.00 to $106.00 and gave the stock an "underweight" rating in a report on Tuesday, July 1st. Evercore ISI boosted their target price on Northern Trust from $108.00 to $121.00 and gave the stock an "in-line" rating in a report on Wednesday, July 2nd. Keefe, Bruyette & Woods lowered Northern Trust from a "market perform" rating to an "underperform" rating and boosted their target price for the stock from $103.00 to $120.00 in a report on Friday. Wells Fargo & Company reduced their target price on Northern Trust from $118.00 to $111.00 and set an "equal weight" rating for the company in a report on Wednesday, April 23rd. Finally, Bank of America reduced their target price on Northern Trust from $123.00 to $121.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $114.50.

Insider Buying and Selling at Northern Trust

In related news, EVP Clive Bellows sold 3,300 shares of the business's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $99.95, for a total value of $329,835.00. Following the sale, the executive vice president owned 28,736 shares of the company's stock, valued at $2,872,163.20. The trade was a 10.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Teresa Parker sold 6,467 shares of the business's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $100.62, for a total value of $650,709.54. Following the completion of the sale, the insider directly owned 79,391 shares in the company, valued at approximately $7,988,322.42. This represents a 7.53% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,772 shares of company stock worth $981,069. 0.77% of the stock is owned by insiders.

About Northern Trust

Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.